The aim of this study was to determine the various bioactive components of five olive oil varieties, as well as to assess their contribution to the oxidative stability of the oils. Fatty acids, α-tocopherol, β-carotene, total flavonoids, total phenols, and certain phenolic compounds of extra virgin olive oils (EVOO; blended, arbequina, hojiblanca, and picual) and pure olive oil (POO) were examined. Oxidation stability was evaluated by the peroxide value (POV). The total content of all the studied antioxidant compounds was significantly higher in the EVOOs than the POO (p<0.05). Among the EVOOs, picual had the highest levels of α-tocopherol (10.18±0.40 mg/100 g), β-carotene (557±8 μg/100 g), and total phenols (110.7±1.3 mg/ g), which correlated strongly with antioxidative capacity. Furthermore, the lowest POV occurred in picual EVOO and correlated with the highest monounsaturated fatty acid (MUFA, C16:1 and C18:1) and lowest polyunsaturated fatty acid (PUFA, C18:2 and C18:3) compositions, suggesting the ratio of MUFA to PUFA is a critical parameter for the oxidative stability of olive oil. Our results indicate that the oxidative stability and antioxidant potential of EVOO depends not only on the antioxidant vitamins, but also on the amount of phenolic compounds and fatty acid profile of the oil.